Posted On: 09/26/2016 4:07:19 AM
Post# of 75357
The LOI with the Chinese group will likely be replaced by a Definitive Agreement (which is a legally binding) document that will state the agreed upon terms and conditions of the sale and a tentative closing date. The October 2nd marks the end of discovery in the sale of RMHB.
What is a Definitive Agreement?
It’s known by many other names, including “stock purchase agreement” and “definitive merger agreement” and so on and so forth.
But it does the same thing in each case: it spells out the finalized deal terms that the buyer and seller are agreeing to.
Unlike a “Letter of Intent” (LOI), which is a preliminary document potential buyers might send over when thinking about buying a company, the Definitive Agreement is… definitive. Final. The end.
What is a Definitive Agreement?
It’s known by many other names, including “stock purchase agreement” and “definitive merger agreement” and so on and so forth.
But it does the same thing in each case: it spells out the finalized deal terms that the buyer and seller are agreeing to.
Unlike a “Letter of Intent” (LOI), which is a preliminary document potential buyers might send over when thinking about buying a company, the Definitive Agreement is… definitive. Final. The end.
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